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reasons for Gowin to be listed on AIM is so they can reach other markets with their products. With the Chinese market so tough at the moment where they can't get payment for existing orders they need to look elsewhere and AIM is their vehicle for doing that. Choice would never be involved if there was a risk they could delist within a few months of them investing in the company. We will get the new NOMAD on Friday when the current one officially leaves.
Theoretically we still have a month after coliseum of play Thursday to find a new nomad. Ok we will be suspended and no one wants that but it doesn't mean game over. I'm amazed there's not been more panic selling. Pi's obviously have faith in the company. Bodes well IMO
Worse case (aka TXO) I suppose is for the shares to be suspended but a NOMAD appointed in a short period so that the shares are relisted??
Yes make or break week for the company. Been reading some post's over TXO and a few pi's there are still very bullish. I still personally think we'll get new nomad RNS this week which should take us upto at least 2p placing price. There's plenty of other news in the pipeline. New board members from choice, money owed to us and new contracts. Possibly overseas. Would also like to see another statement referring to the 2p premium placing which choice took up. What are there intentions? Why did they pay a premium? Hopefully all will be revealed. AIMHO. GLA
So a Nomad has to be appointed this week? Looks like TXO has been suspended with the same issue. Good luck - considering the bullish talk from the company you would like a Nomad would be interested/lined up?
Only got a chance to email them last night. Just a few of questions regarding nomad, new CFO and the choice directors being appointed to our board. I keep reading through previous RNS's as there's not much else to go on. So many bullish points. Fingers crossed we get some news at some point today
did you get a reply from company?
let`ssee if this new directors are on the ball....we should get news b4 next Friday....suspension is out of the question
If you've done any research at all you'd know this is the case. I'm confident on getting a new nomad and also confident of the company turning itself around. First major steps have been taken In my opinion.
26 January 2015 Gowin New Energy Group Limited ("Gowin" or the "Company") Update and Resignation of Nominated Adviser Update Further to the announcement of 21 January 2015, the Board of the Company announces that it is in discussions regarding funding which are expected to be concluded and announced imminently. The Company's working capital position remains severely constrained. Resignation of Nominated Adviser The Board of the Company announces that Cairn Financial Advisers LLP has resigned as the Company's nominated adviser effective from the close of business on 26 February 2015. In accordance with the AIM Rules, the Company's shares will be suspended at 7.30 am on 27 February 2015 pursuant to AIM Rule 1 if a replacement nominated adviser has not been appointed by that time. If a replacement nominated adviser has not been appointed within one month of that suspension, the admission of the Company's securities to AIM will be cancelled.
so not much after the small announcement. What are people expecting to happen here? I guess some will be wary of a suspension, but am i right in assuming that this is less likely. But what would be the short and long term impact of suspnesion ( i guess long term suspension would be lethally damaging?)
I topped up on Friday. Why couldn't I have waited. I'm going to send them an email today just to get some clarity of what's going on. Did anyone else get a reply from them? As for nomad I'd have thought they'd have one lined up but let's not forget that any new nomad has to do there due diligence before becoming an advisor to a new company. With money we are owed, contracts in the pipeline and appointment of our new CFO, you'd think finding a new suitable nomad wouldn't be a problem
I imagine the new NOMAD will not be announced until the other one has left the building, so next Thursday or Friday morning. The price will teeter around this level until that time, unless we get some other news in the meantime. If there is any drop due to people selling on fear of suspension, shares will be mopped up if people can buy lower. March could be very interesting and exciting with Gowin.
Yes it is a dilution... But a good one? Placed at 2p which is well over current share price...
What does this mean for the average small investor?......Is it a dilution of earnings?
New Energy Group Limited 16 February 2015 16 February 2015 Gowin New Energy Group Limited ("Gowin" or the "CoResult of EGM At the Extraordinary General Meeting of the Company held at 9.00 am today, all resolutions were duly passed. Accordingly, application has been made for 60,000,000 new ordinary shares to be admitted to trading on AIM and admission is expected at 8.00 am on 17 February. Following admission of the 60,000,000 new ordinary shares to trading on AIM, the total number of ordinary shares with voting rights in issue will be 405,712,176 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Any updates ?
any news in the EGM?
Thanks. Like I said yesterday we should get an rns after 9 o'clock after the EGM. Whether there'll be anymore info remains to be seen. Are you a holder? I will email them when I get a minute
If and when I get a reply will post on here. Only sent the email before I posted on here.
Have you had a reply?
Just emailed them. Maybe you guys should do too..
There have been some really bullish quotes to justify this gamble. I'd say almost hints from the chairman. "The Company has made encouraging progress with export sales with a number of overseas contracts under negotiation. The directors are optimistic that these will be signed within the first half of 2015 and further announcements will be made in due course." Chairman Garry Willinge commented: "This fundraising is a first step in the necessary transformation of the Company after an extended period of working capital constraints. Further transformation measures are planned. The Board is grateful for the support of shareholders and pleased to have year 2014 behind us". Chairman Garry Willinge commented: "The Board of Gowin is very pleased to make the appointment of Dr. Irelan Tam in both roles. Her skills and experience in both financial and business performance improvement are just what the Company needs at this time. This is another incremental and strategic step in the transformation of the Company. 3 keys quotes from management. Also after reading through Garry Willinge's cv you start to realise that this company is not gong to go down without a fight. Very successful and respected man in Hong Kong. Then there's the new CFO Dr Irelan Tam. She's not been brought in just to take an easy pay cheque. This women is hugely successful with over 20 years experience at the top for Johnson & Johnson. I'd love to know the thinking and reasons behind her appointment. Hopefully all will be revealed this week. We will be getting an RNS tomorrow at some point because of EGM. Hopefully with some more company changing news
...roughly left to replace them - considering the recent bullish talk from the company I like it's more likely than not that a new NOMOD will be appointed... but not a cert...
Has anyone/body been appointed yet to replace Cairn? Time is running out